Does C.G.T. apply to the sale of offshore assets held by someone living in SA?
By Marc Sevitz · Updated
Does C. G. T. Apply to the sale off shore assets held by someone who is a permanent SA resident but not a SA citizen?
South African tax residents are taxed on their worldwide income. Therefore CGT arising from the sale of offshore assets would need to be declared in your local SA tax return provided you are tax resident in South Africa.
Thanks for a great answer! Question answered!
Glad we could assist!